Established in 1873, Benetti went a long way from building wooden boats to posting a €1 billion turnover in 2008. Stronger than ever, the Italian group is now on its way to expanding its reach into the 100-meter plus market, tightening its grasp on yachting.
Benetti's story starts with its foundation by Lorenzo Benetti in 1873 to manufacture local wooden boats. After WW2, the need for wooden boats had disappeared and the company started building steel, pleasure crafts. By the 1960s, it was creating some of the world's first superyachts.
Its strongest push came with the acquisition of the yard by Azimut in 1985, resulting in the Azimut Benetti group, which still exists to this day. Propelled by commercial successes and a cooperation with then unknown designer Stefano Righini, the group went on a buying spree.
Amongst its purchases, the Gobbi shipyard, which manufactures its Atlantis range today, Fraser Yachts, the brokerage house, as well as Marina di Varazze and the Royal Yacht Club in Moscow. By 2008, the group built its way to a €1 billion turnover.
As the subprime crisis hit yachting, leaving many shipyards to shut down, the whole market, including Benetti, which was able to push through strongly nevertheless. Amongst yachts built in that period were Staluppi's 61-meter Diamonds are Forever and Nick Candy's 63-meter 11-11 amongst others.
By 2016, Azimut-Benetti's turnover had risen again to near €700 million, marking 3 years of consecutive growth. Throughout this time, Benetti's most visible products, 30 to 60-meter yachts remained highly attractive to charter clients, some of which started buying them again as the market picked up.
Whilst most visible through Benetti yachts in the mid-size range, the group's influence on yachting spread deeply throughout the market in different spaces. Azimut, a leader in the construction of yachts of up to 30 meters, has become a reference in the space, acting as a gateway drug to the group's yachts.
Through its full ownership of Fraser Yachts since October 2017, the group controls Fraser Yachts, a brokerage firm also active in yacht management and crewing. By extension this provides the group with first-party data on client behaviour as well as deeper insights into yachting, knowing first hand how other competing shipyards perform.
"This recent acquisition is part of the strategic plan of our group to offer superyacht owners not only the most beautiful yachts, but also the utmost service" commented Azimut-Benetti's president, Paolo Vitelli, when the group bought out V.Ships' minority stake in Fraser in 2017.
Skewing towards small to mid-size yachts of up to 60-meters, the Azimut-Benetti group had grown its position in the sector to the point of building the most meters out of any shipyards for 19 consecutive years. Its impact on the megayacht market, however, remained immaterial leaving Northern European shipyards like Lurssen, Feadship and Oceanco to dominate the space.
Benetti's first attempt to enter the space came in the 1980s. At the time, the yard had secured the build of the 86-meter Nabila for Saudi businessman and arms dealer, Adnan Khashoggi, the 8th largest yacht in the world. The yacht was later purchased for $29 million in 1987 by Donald Trump and renamed to Trump Princess.
For decades after, Benetti stayed away from new builds of this size, leaving the market to other shipyards. Recently, however, yachting changed and the megayacht space entered into an upswing, leading to Benetti coming back into the size range. This first took the form of the 90-meter Lionheart, delivered to British businessman Philip Green in 2016.
The yard's current flagship, however, is about to be eclipsed by a 107-meter yacht launched in December 2018. More significantly, this will be the first yacht out of 3 over 100 meters to be delivered by Benetti over the coming months. Amongst customers for one of these new hulls is Australian billionaire and serial yacht owner James Packer.
Benetti's ambition to takeover one of the remaining parts of the market is not unfamiliar to other shipyards. Dutch shipyard Heesen Yachts, backed by Russian billionaire Vagit Alekperov, has also built a new dry dock capable of building yachts of up to 85 meters back in 2016.
Meanwhile yards known for megayachts such as LVMH's Feadship have started expanding their influence downward with projects such as Feadship's Lagoon Cruisers of 34 meters in length. Results of these strategies remain to be seen in coming quarters, however, even now over half of yacht gross tonnage is built by just 10 shipyards.
Lürssen has launched the 114-meter megayacht Cosmos, a hybrid vessel equipped with two 500 kW methanol fuel cells that enable emissions-free cruising for extended periods. The yacht, introduced as part of the company’s 150th anniversary, can travel up to 1,000 nautical miles on electricity alone and remain at anchor with zero emissions for up to 15 days.Commissioned by an undisclosed owner, Cosmos features an all-steel hull reinforced to Ice Class 1D, allowing navigation in polar waters as well as across all major oceans. Alongside its methanol-based hydrogen power system, the yacht is fitted with diesel generators, engines, and tanks to allow conventional propulsion for higher speeds.Designed inside and out by Marc Newson, the vessel has a beam of 18 metres (59 feet), a gross tonnage of 6,300, and spans six decks. The design incorporates extensive use of glass, including a custom-engineered glass-domed owner’s study offering 360-degree views, a surrounding sky terrace, and an observation lounge located beneath the helipad.Outdoor amenities include a main deck with a swimming pool, Jacuzzi, seating areas, and an aft dry dock for tender operations. The combination of ice-class construction, hybrid propulsion, and large-scale glazing represents Lürssen’s latest application of advanced engineering to meet evolving environmental and design goals.Credits: Lürssen
August 12, 2025
The NOA 46, a 46-meter motor yacht built by The Yacht Factory in Yalova, Turkey, will be presented for the first time at the Cannes Yachting Festival from 9 to 14 September. Ocean Independence has been appointed as Central Agent for the vessel.Designed by Hot Lab Yacht Design, the yacht is intended for long-range cruising and features a steel hull, aluminium superstructure, and compliance with RINA and MCA classifications. Accommodation is arranged for ten guests in five staterooms. The main salon connects directly to an al fresco lounge area with a large jacuzzi, while the sundeck includes a DJ booth, bar, and gym area.The interior uses predominantly brown and beige tones, with large windows providing natural light throughout. Power comes from twin MAN 1,450HP engines meeting IMO Tier III standards, giving a range of 4,000 nautical miles at 10 knots, a cruising speed of 13 knots, and a top speed of 15.7 knots. ABT TRAC fin stabilisers are fitted for stability underway and at anchor, and the yacht is equipped with Simrad navigation systems.The Yacht Factory operates on a 200,000-square-meter site with facilities including a floating dock for large yachts and a travel lift with an 800-ton capacity.Credits: Ocean Independence
August 12, 2025
The 76.6-meter motor yacht Boadicea is now available for charter through Northrop & Johnson, with Mediterranean itineraries this summer followed by Caribbean and Bahamas deployments this winter. The 1999-built Amels flagship, designed by Terence Disdale, carries a weekly rate of EUR725,000 plus expenses.Recent refits have maintained Boadicea's competitive position in the charter market, including installation of a 12-seat cinema theater and exterior repainting. The yacht offers 2,191 GT of interior volume across five decks served by an elevator and spiral staircase.Accommodations include nine staterooms for 18 guests, featuring two master suites - one on the upper deck with private terrace and dual bathrooms, another forward on the main deck. Common areas comprise a walnut-paneled main salon, upper deck lounge with Roche Bobois furnishings, and multiple entertainment spaces.Outdoor amenities includes sundeck with 6-meter counter-current pool, bridge deck wellness area with gym and spa facilities, expanded beach club with inflatable sea pool platform, 13-meter Pirelli chase tender plus extensive toy selection.The yacht's recent updates preserve Disdale's original design while incorporating modern charter requirements. Boadicea remains one of the largest vessels available for private charter, offering rare volume in the 70+ meter segment.Northrop & Johnson will manage bookings for the 2024/2025 charter seasons, with the vessel currently positioned in the Mediterranean. The Amels-built superyacht joins the brokerage's portfolio of large-tonnage charter options.Damen Yachting, the yacht-building division of Damen Shipyards Group, employs approximately 500 professionals across its Amels, SeaXplorer, and Yacht Support vessel programs. No purchase price was disclosed for the new build.Credits: Northrop & Johnson
August 12, 2025
Feadship has delivered the 71.76-meter superyacht Stella M to her owner on 5 August 2025. Built at the Dutch yard and designed by Studio De Voogt, the vessel features five decks and a layout intended for multi-generational use.The yacht is equipped with a next-generation diesel-electric propulsion system, designed to reduce noise and vibration while supporting cleaner cruising. According to Feadship, sea trials confirmed notably low noise and vibration levels.The project was carried out in collaboration with Burgess, representing the owner throughout the build, and Hugo-Morgan Harris acting as technical representative.“Every detail was shaped by a shared ambition to create something exceptional,” said Maarten Janssen, Feadship Sales Director. “Her advanced diesel-electric propulsion system has resulted in remarkably low noise and vibration levels.”Burgess Senior Partner Richard Lambert commented: “Her Dutch pedigree coupled with complete collaboration between all parties resulted in a vessel that meets the owner’s forward-thinking vision.”Stella M is set to begin her first Mediterranean season following delivery.Credits: Feadship
August 11, 2025
Oceanco has launched the 111-meter diesel-electric yacht Leviathan, previously known as Project Y722, at its facility in the Netherlands. The vessel features naval architecture by Oceanco and Lateral Naval Architects, exterior design by Oceanco, and interiors by Mark Berryman Design.Commissioned by an experienced owner, Leviathan was developed with a focus on operational efficiency and crew wellbeing. According to Oceanco, crew members were involved in the design process to provide practical input. The yacht incorporates durable, low-maintenance materials such as honed stone, natural wool carpets, composite capping rails and decks, and full-height glass superstructure bulkheads, replacing more maintenance-intensive elements like teak decks and polished wooden handrails. These choices are intended to reduce routine upkeep and allow crew to focus on guest services and operational tasks.The project involved collaboration between the owner, technical representatives from YTMC, and management company Y.CO. More than 2,000 people contributed to the build, and their names are engraved on a glass panel in the main staircase.Leviathan is designed to accommodate a variety of uses, including hospitality and scientific work. She has a beam of 17.8 metres and is scheduled to begin sea trials in the coming weeks. Further details on her capabilities are expected to be released later.Credits: Oceanico
August 11, 2025